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<br />for extension the rental payment as contemplated in Article II, Paragraph 1 shall become <br /> <br />negotiable for the extension term. <br /> <br />3. LESSEE shall be granted the right to extension a total of two (2) times. The maximum <br /> <br />period of time of this agreement including all extensions shall not be more than twenty (20) <br /> <br />years from the effective date. <br /> <br />Article IV <br />DISPUTE RESOLUTION <br /> <br />1. Should LESSEE default in, or fail or refuse to keep any of the covenants, conditions, <br /> <br />stipulations and/or provisions herein contained, notice thereof shall be given in writing to <br /> <br /> <br />LESSEE by LESSOR's Airport Manager or Representative, giving LESSEE thirty (30) days <br /> <br /> <br />to correct such discrepancy, and in the event such default, failure or refusal is not corrected <br /> <br /> <br />within the thirty day period, a second notice in writing by certified mail, affording a hearing <br /> <br /> <br />before the Airport Advisory Board on a day certain shall be given to LESSEE by LESSOR's <br /> <br /> <br />Airport Manager or Representative. After affording LESSEE such hearing the Airport <br /> <br /> <br />Advisory Board shall recommend to the City Council that the lease continue or be <br /> <br />terminated, and thereafter the City Council shall take such action as it deems necessary and <br /> <br />appropriate. <br /> <br />2. The controlling law and venue for any dispute that should arise out of this agreement shall <br /> <br />be that of Lamar County, Texas. <br /> <br />3. If a dispute should arise over the covenants or benefits of this agreement, the parties agree <br /> <br />to submit the issue( s) in dispute to mediation. <br /> <br />FBO Lease - Page 7 <br /> <br />7 <br />